AboutLos Angeles Bankruptcy Lawyer Leon D. Bayer Expertise Personal and small business bankruptcy. Mr. Bayer has successfully handled thousands of bankruptcy cases. You can view his personal web site at:
Publications Author, ?The Essentials Of Chapter 13,? Daily Journal Report, December 18, 1987.
Contributing Editor, Basic Bankruptcy, California Practice Handbook, Matthew Bender 1992, 1993.
CEB Consultant, CEB-Personal and Small Business Bankruptcy Practice in California, 2003.
Awards and Honors President, 1995-1996-Los Angeles Bankruptcy Forum; Member - Los Angeles County Bar Association Committee on Commercial Law & Bankruptcy, 1988. Law Advisory
Commission-Personal & Small Business Bankruptcy Law of the State Bar of California, 1996-2000
MR. BAYER SAYS: The big banks and credit card companys have been working overtime for many years to undermine the Consitutional right of the American people to be able to claim bankruptcy protection. In 2005 the banking lobby successfully convinced Congress and the President to make the laws and proceedures more complicated, hopeing that it will stymie legitimate people from filing bankruptcy. They succeeded in gaining these complex new legal proceedures by greasing the legislative system with hundreds of millions of dollars in "campaign contributions." The good news for the American people is that while the new laws have made the proceedures needlessly complex to the point where inexperienced people can't help but trip over the maze of new rules and regulations, the process is still doable, especially with a lawyer who is well trained and experienced in this specialty.
Question I live in Washington state, and my home was recently appraised at 208K-I owe 285k on the home with the first and second mortgage. I have 30K in unsecured debt with BofA as well and with the APR's almost tripling in the last month I will be unable to pay within two months. Is it possible to to keep the house and discharge the rest?? Thanks
It may be possible, You have to prove that the current market value of the home is BELOW what you currently owe on just the 1st mortgage.
You should consult with a local bankruptcy lawyer right away for guidance. Filing a 13 and seeking the removal of a mortgage is one of the most complex events that ever takes place in a consumer bankruptcy case. You will need expert legal representation to fully evaluate and understand your options.
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